Why Am I Losing So Often Compared To Wins??! + Why I Always Choose Wrong Direction??!

[GeoffHill]

Hi Geoff,

I am by no means experienced although I have been trading full-time for almost a year. Monday is more a bit of fun than a serious chance to make a killing and retire, but you may learn something; I may learn something! As I said before, use a demo account for my calls.

After Monday, you can decide if you want to buy me lunch.

-Darren

Hi Darren,

Ok , will use demo account, and chat after.

Best Regards
Geoff

 

[spanish89]

After Monday, you can decide if you want to buy me lunch.

-Darren

Dont buy shadow lunch bruv..

 

[shadowninja]

Jealous, are we, mister?

 

[spanish89]

Jealous, are we, mister?

Me jealous?? LOL

No not at all...
Im merely trying to ''facilitate a more financially equalatively balanced dining environment''.. :cheesy:

 

[mp6140]

Mp --- Simple Solutions !

MY GOLLY, youre racked with pain, aint ya !

although not reading each and every post, I've seen a bunch of very good answers here and something inside of me tells me youre not following any !

First and foremost, as has been said ---- STOP TRADING ! youre beating your head against something much harder than your head, and its winning !

NOW --- if you are still attempting to flip the shorter timeframes, YOU ARE AS DUMB AS A STUMP !!!!!

It takes literally years to be able to trade the one minute or even the 5 minute successfully, and to think you can do it with less experience shows a "hutzpah" that exceeds even our presidents ----- you are being one very foolish man !!

When I teach, theres a little fun I have with new students --- I trade each timeframe up to the one hour at the same time, letting them watch each trade to its final tp point --- Its partly bragaddo, but more importantly it shows what THEY will be able to do down the road, but they also understand that the trip takes longer than a few minutes !

trading in those timeframes, you need to have so much experience that you can make correct decisions in miliseconds, and KNOW what is happening before it happens, and my friend, YOU JUST AINT GOT THE EXPERIENCE FOR IT YET !
now go and do what you should have in the beginning --- find your trend on the 30, H1 or H4 charts where you can learn whats happening and how it happens and have the TIME to plan and understand and over time, if that is what is in the cards, you will begin to understand how and why the markets move, no matter what timeframe.

I wish you luck, but you wont see it till you rid yourself of those short timeframes and get experience ---- after that, the sky is literally the limit !

enjoy and trade well

mp

 

[black bear]

I confess

MY GOLLY, youre racked with pain, aint ya !

although not reading each and every post, I've seen a bunch of very good answers here and something inside of me tells me youre not following any !

First and foremost, as has been said ---- STOP TRADING ! youre beating your head against something much harder than your head, and its winning !

NOW --- if you are still attempting to flip the shorter timeframes, YOU ARE AS DUMB AS A STUMP !!!!!

It takes literally years to be able to trade the one minute or even the 5 minute successfully, and to think you can do it with less experience shows a "hutzpah" that exceeds even our presidents ----- you are being one very foolish man !!

When I teach, theres a little fun I have with new students --- I trade each timeframe up to the one hour at the same time, letting them watch each trade to its final tp point --- Its partly bragaddo, but more importantly it shows what THEY will be able to do down the road, but they also understand that the trip takes longer than a few minutes !

trading in those timeframes, you need to have so much experience that you can make correct decisions in miliseconds, and KNOW what is happening before it happens, and my friend, YOU JUST AINT GOT THE EXPERIENCE FOR IT YET !
now go and do what you should have in the beginning --- find your trend on the 30, H1 or H4 charts where you can learn whats happening and how it happens and have the TIME to plan and understand and over time, if that is what is in the cards, you will begin to understand how and why the markets move, no matter what timeframe.

I wish you luck, but you wont see it till you rid yourself of those short timeframes and get experience ---- after that, the sky is literally the limit !

enjoy and trade well

mp

Hi mp

Good advice and posts all over the site mp = take it Spanish imho

better pm me I think

I learnt upside down mp

I did learn the higher timeframes first but never traded them with any positive results or confidence even though I no it works out

see entries exits effortlessly lower down the range and returns are consistant for over a year

downside 5-6 hrs per day screen time

answer why :?: in your opinion would be appreciated and give me something to work on

no financial work experience or training to date at all

no pm me = me in public I have a thick skin = I am a pig :cheesy:

 

[spanish89]

Aloha thanx for your advice i will take it and test it now im practicing trading with my demo accounts.

 

[spanish89]

For anyone who is really really bored in their life / just really cares about me for some reason and wants to watch and help me learn and suceed till eventually i make a living for the rest of my life trading /
or if you just really hate and despise me and want to watch me and hope i fail so you can then laugh and rub it in viciously! LOL :cheesy:


Heres the link to my current daily updating trading journal.
http://www.trade2win.com/boards/tra...-journal-cheesy-cheesy-cheesy.html#post406263

 

[mp6140]

Hi mp

Good advice and posts all over the site mp = take it Spanish imho

better pm me I think

answer why :?: in your opinion would be appreciated and give me something to work on

no financial work experience or training to date at all

no pm me = me in public I have a thick skin = I am a pig :cheesy:

The mods, in their infinite wisdom have decided to give me my own thread, mostly because i bribed them with an obscure and useless indicator I renamed into something sounding french and perhaps a bit fried !

whether or not they have made the correct decision will remain for others to judge, and perhaps complain about, but if interested (although I will still be roaming these halls of academia a bit) you might look for me at

http://www.trade2win.com/boards/first-steps/30024-trading-mp6140.html

the site is called "trading with mp6140" which they came up with, but i find has a nice ring to it, full of promise and hope and headed up by one of the most sophisticated and jovial experienced traders in the whole world --- a veritable treasure trove of insight and guidance !

OK, nuff fun --- thats where i should normally be found and maybe i can translate some of my astronomical knowledge base to you, a mere weedhopper of a trader !

LOL --- ok, tongue is out of cheek at the moment.

come visit

mp

 

[spanish89]

come visit

mp

What you mean 'you had to ask permission to start your own thread??? LOL

 

[mp6140]

What you mean 'you had to ask permission to start your own thread??? LOL

=================================================

actually, most of it was a joke, but the mods decided to send me to some obscure house on the outskirts of town, cause their only other option was to hunt me down like the dog i am and shoot me graveyard dead !

mp

 

[adorozlondyn]

Put This On Your Monitor

Taking responsibility means acknowledging and accepting, at
the deepest part of your identity, that you—not the market—are
completely responsible for your success or failure as a trader.
Granted, the market's purpose is to separate you from your money;
but in the process of doing so, it also provides you with an endless
stream of opportunities for you to take money from it.

It is from Trading in the Zone by mark Douglas

I'm often very frustrated as well ( I'm a head chef so I'm short tempered:cheesy:)

But thinking in line with this helps

Just to put you in better mood on Friday 14 my acc. was up from 39£ to 180£ but yesterday went from 180£ to 37£, as for today I'm on 57£:clover:

so you see just relax and take it easy

 

[spanish89]

If anyone wants to keep track of my recent progress and new style of trading here is the link to my daily updating journal...
http://www.trade2win.com/boards/trading-journals/30016-spanish89-s-daily-trading-journal-cheesy-cheesy-cheesy.html


(Only demo cash for now till ive paid of my creditcard debt of £2000, have a few hundred as clear capital, and have go skilled enough to become consistently profitable).

This could take a few days if i get 1big order in on 1 of the businesses my corporation operates, it could take a year if i go bankrupt and keep failing at trading even after hours and hours of research and practise!

 

[mp6140]

Mp -- Something Wrong Here !

Taking responsibility means acknowledging and accepting, at
the deepest part of your identity, that you—not the market—are
completely responsible for your success or failure as a trader.
Granted, the market's purpose is to separate you from your money;
but in the process of doing so, it also provides you with an endless
stream of opportunities for you to take money from it.

It is from Trading in the Zone by mark Douglas

I'm often very frustrated as well ( I'm a head chef so I'm short tempered:cheesy:)

But thinking in line with this helps

Just to put you in better mood on Friday 14 my acc. was up from 39£ to 180£ but yesterday went from 180£ to 37£, as for today I'm on 57£:clover:

so you see just relax and take it easy

================================================================

While not sitting next to you so I can understand whats wrong, DO YOU HAVE A CLUE AS TO WHERE TO SET YOUR EXITS ???????

Just to watch a price go up and down, with no idea of where the top or reversal point is, is not trading -- its more like watching a tennis game !

Kindly tell me --- DO YOU KNOW WHERE TO EXIT ??

mp

 

[adelvalle]

From what I read in the first post ( I didnt read all the replies so...) It seems as though you don't have a solid plan. You must know for sure how many points you will risk and why, and i would prefer that you would base your strategies on solid statistical grounds.

You need to put some more research into different strategies and try them, it is not going to work on the first 10 strategies that you design. It might take 100-200 or so ideas before you find that one that works (and this is precisely why you should not be risking your money). When I am researching a given strategy I try 1000 variations of the strategy on a given day (make simulations, etc..) and then I have solid reasons on why I should do what.

I always think of Thomas Alva Edison when desinging strategies and running simulations, it took Him more than a 1000 ideas and failures before he came up with the right idea to make the light bulb work. Prepare to take years and years of work. Good luck

 

[adorozlondyn]

i know what is wrong

================================================================

While not sitting next to you so I can understand whats wrong, DO YOU HAVE A CLUE AS TO WHERE TO SET YOUR EXITS ???????

Just to watch a price go up and down, with no idea of where the top or reversal point is, is not trading -- its more like watching a tennis game !

Kindly tell me --- DO YOU KNOW WHERE TO EXIT ??

mp

i know what is wrong, every time i don't stick to my stops i get burn badly.

But knowing what is wrong and changing it different story:smart::idea:

Normally my stop is 5pips but sometimes i'm using 10 pips so you can see how easy is to lose 100£ if stake is 5 and you take stop 20.

upss, and my stake is 1 so 20 pips is good i think

I'm working on my stops and the the book is big help.

regards
adam

 

[sofaking]

I'm here too and this thread is quite interesting.
I've nothing interesting to say at the moment, just subscribing to the thread, that's all...

 

[vergis92]

Aloha again people...

Um ok im not sure how many of you have seen some of my other posts, but so i will keep this 1 short as not to bore you even more and so you wont be so fedup by the end that you just be rude and insulting to me!! :cheesy::cheesy:


My favorite market is the Ftse and oil, but i also trade a lil on the dow when its trending sharply, and from today going to try AUD/USD as it seems more stable and consistent straight then Ftse or oil.

I plan to become a fulltime trader once i leave college in 2months, but currently im losing about 2/6x per every 1win!!



Ok over the last 3weeks ive tried almost every different stratergy there is!!!

1. Ive read the topics by the most traders on here and other forums.

2. Ive metup with 2 sucessful traders from here and speak to a few others daily.

3. Ive tried slowing my trade frequency down, and holding for longer (2-15 minutes), instead of scalping so much like i used to (10secs-3mins).

4. Holding for on longer even when im in loss.

5. Only trading on the trend lines, and in dips, and using suport and restistance lines as guide lines.

6. Looking at the trend for 5mins-45mins, not the 10secs - 2min trends i used to use.



But over the last 2weeks ive lost about £500-£600, and only had technically made about £250 - £300 (Never withdrawn ever, the most profit i ever had in account at one time was £45, and now have lost all apart from £26 left in account!!)

I started with £50 capital, lost 20 so put in £100 more, and then just kept toppingup account everytime balance went below £50 capital!!



My preferred and current style of trading is:

1. Looking at graph and trying to see if there is a trend over the last minute to few mins to 15minutes..

2. If there i either buy or sell into it, with minimum stoploss available (20pips on ftse/ 30dow oil and fx) as i simply cant aford any greater risk.

3. If it continues to go in my favour i will hold till i have about £6 - 8 profit and then close, unless its trending in my favour very fast and constant.

4. Once close i then look and if it still trends more over next 10 - 15secs i will trade again, or if its moving opposite way i will try to cash in on that too.

5. However when i open a trade and it starts to go against me i will normally try and hold till minus 6 or 7, and then either will close and be sad at loss, or try and hold out till it turns again, but then more than likely end up hitting stoploss and being even more upset and sad and depressed!!



I dont just jump onto every tick and every trade randomly just to pass the time,
i do actually wait and only trade when i see a trend line forming...

But how come about 80 - 90% of the time when i trade in the direction of the trend line it either suddenly changes direction against me after a few seconds - few minutes???!! :!:


But so how do some many others of you get the trend direction correct 80 - 90% of the time, and not have it change direction against you after 15secs - a few mins??! :-0:-0:-0



(I now am in £2000 overall, about £1000 due to stockmarket spread-betting and on fixed odds on BetOnMarkets.
But so now have 0 money left to trade with, so am now only using demo account as taht is all i have left)

I would recommend you considered changing timeframe and style,
most people including myself started out (mistakenly) thinking
that I could find the 9-5 job equivalent in trading, Big mistake!

I have managed to turn my trading around but not fill my spare time!

I feel confident to trade the equity markets or forex but only
on a longer term basis and I'm convinced markets are fundamental!
the real trend is not always visible on the charts whereas it is expected if you understand the moving forces underneath the markets.

The most recent example was the December extended decline
initiated by the FED's decision on interest rates,
even though the trend looked up and in momentum on the charts,
a new downward momentum was building up,

I have never made any consistent profit following a purely technical analysis approach, I'm not a daytrader either

my advice is to stop trading alltogether, markets and trading systems are full of myths and unrealistic goals....

I too have found that disciplined trading essentially means
lack of understanding for what's happening 'under the hood'



source:
CHAMPION CAPITAL | Invest with Confidence in hidden value, strong US stocks!

 

[spanish89]

I would recommend you considered changing timeframe and style,
most people including myself started out (mistakenly) thinking
that I could find the 9-5 job equivalent in trading, Big mistake!

I have managed to turn my trading around but not fill my spare time!

I feel confident to trade the equity markets or forex but only
on a longer term basis and I'm convinced markets are fundamental!
the real trend is not always visible on the charts whereas it is expected if you understand the moving forces underneath the markets.

The most recent example was the December extended decline
initiated by the FED's decision on interest rates,
even though the trend looked up and in momentum on the charts,
a new downward momentum was building up,

I have never made any consistent profit following a purely technical analysis approach, I'm not a daytrader either

my advice is to stop trading alltogether, markets and trading systems are full of myths and unrealistic goals....

I too have found that disciplined trading essentially means
lack of understanding for what's happening 'under the hood'



source:
CHAMPION CAPITAL | Invest with Confidence in hidden value, strong US stocks!

ALoha thanks im pretty accurate and confiedent at trading of graphs now (use 5/10/15/and 30mins) but im struggling to find where i can learn about all the fandamentals and underlying things and what effects they have...



Please can you direct em to wher you learnt about them??

Thanks

 

[Splitlink]

ALoha thanks im pretty accurate and confiedent at trading of graphs now (use 5/10/15/and 30mins) but im struggling to find where i can learn about all the fandamentals and underlying things and what effects they have...



Please can you direct em to wher you learnt about them??

Thanks

Fundamentals----you mean longer term share investment?

With trading, I don't think that you need it.

But, with investment, I've done well by Jim Slater's "The Zulu Principle". It's well enough known to be obtainable from a library, probably.

Glad to know that you are still struggling along with us. It never stops!

Good trading,

Split